RAMSEY, NJ, USA, Aug 23, 2021 /EINPresswire.com/ – Varas Brokers of US and SAG Group of Malaysia have signed a strategic memorandum of understanding to work together to develop opportunities in the insurance space Malaysia-United States. The two companies support each other in their respective countries and contribute to the growth of the market.
The agreement was signed by Ms. Monica Varas, Founder and CEO of Varas Brokers, and Mr. Chong, Managing Director of SAG Premier.
Founded in 2019-2020, Varas Brokers was established in New Jersey by Ms. Monica Varas, a nearly 30-year U.S. insurance industry veteran with extensive experience across all property and casualty insurance product lines. Varas is keen to meet insurance requirements in international trade, credit insurance and other related fields.
SAG Group is the largest insurance agency in Malaysia
Over the past decades, the United States and Malaysia have enjoyed a deep trading relationship that has only been strengthened in recent years. Currently, Malaysia is the 19th largest trading partner of the United States with nearly $ 55 billion in trade.
“What a great accomplishment for VIB to be able to work with SAG Group. This will benefit both companies and expand our business, ”said Monica Varas.
Expressing his thoughts on the occasion, Mr. Chong said, “Coming together as partners is indeed my honor. A big step forward for SAG to support and work successfully with Varas Brokers. “
The US Commercial Service, Department of Commerce was instrumental and worked with J Syzygia Consultants in India to bring this project to fruition.
Anuraag Sunder of J Syzygia Consultants, an international investment banking and advisory firm, said: “SAG is an iconic company and one of Malaysia’s most respected insurance institutions. Thanks to Varas’ extensive network and proven expertise in US markets, coupled with the institutional support it enjoys, Varas and SAG can create robust risk management solutions for their respective clients. At a time when business confidence has not yet fully returned to the larger ecosystem, this is a clear win-win proposition that will instill confidence in the minds of relevant stakeholders.